Digital advertising growth highlights platform dominance

Digital ad spend reaches $14.9bn as platform dominance fuels the debate over the News Media Bargaining Code.

David Kennedy · Venture Insights6 September 2024Period: FY243 min read

Last updated 6 May 2026

$14.9bn↑

Total Australian digital advertising spend excluding BVOD (FY24)

8.6%↑

Overall growth in digital advertising spend (FY24)

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Abstract

This report analyzes the latest IAB Australia data showing strong digital advertising growth despite a sluggish economy. Excluding BVOD, the market grew 8.6% to reach $14.9bn in FY24, led by search and display segments. The findings highlight the entrenched economic power of global platforms like Google and Meta, providing further ammunition for the Australian Government to enforce the News Media Bargaining Code as traditional media revenues continue to decline.

Key Takeaways

Australian digital advertising spend grew 8.6% to $14.9bn in FY24, outperforming the broader sluggish economy.
Search and display led the growth, reaching $6.9bn (up 10.1%) and $5.5bn (up 9.2%) respectively.
Video is the dominant driver of display growth, surging 18.6% to $4.1bn while non-video display fell 1.1%.

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Frequently Asked Questions

The Australian digital advertising market remains resilient, growing 8.6% to reach $14.9bn in FY24. This performance significantly outpaces the broader sluggish economy, driven primarily by search and display segments which grew 10.1% and 9.2% respectively.

Video is the critical growth engine, surging 18.6% to $4.1bn in FY24. In contrast, non-video display advertising has entered a period of decline, falling 1.1% as advertisers shift budgets toward higher-engagement formats.

Connected TV has emerged as the primary battleground for video inventory, now capturing 55% of total spend. This is a substantial increase from the 47% share recorded in the previous period, reflecting a structural shift in audience consumption.

The ACCC is closely monitoring the $14.9bn market due to the entrenched power of Google and Meta. Meta’s refusal to renew news compensation agreements poses a direct threat to the News Media Bargaining Code and likely invites further government intervention.

Abstract

Key Takeaways

Australian digital advertising spend grew 8.6% to $14.9bn in FY24, outperforming the broader sluggish economy.

Search and display led the growth, reaching $6.9bn (up 10.1%) and $5.5bn (up 9.2%) respectively.

Video is the dominant driver of display growth, surging 18.6% to $4.1bn while non-video display fell 1.1%.

Frequently Asked Questions

Abstract

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